Breaking News: WWE's CEO McMahon Resigns to Pursue Run for U.S. Senate
The Chief Executive Officer of World Wrestling Entertainment (WWE), Linda McMahon resigned in order to run for the U.S. Senate seat from Connecticut currently held by the astoundingly corrupt Sen. Chris Dodd (D-CT). I'm no fan of fake TV wrestling and would normally dismiss this as a joke. However, a closer look yields a different result. While on the surface her company is TV wrestling, it is actually much more. She and her husband Vince developed the company from just being TV wrestling to a global entertainment powerhouse that makes movies and is selling hundreds of millions of dollars of merchandise annually. WWE has been a strong company despite the economic turmoil of the last year. They return value to their investors with a consistent dividend.
I wish her luck as it is never easy unseating an incumbent. Dodd's shady dealings with Countrywide and other various ethical problems make him appear vulnerable, but he is still a several term incumbent and Democrats in the northeast have shown themselves to be awfully forgiving of misbehavior (remember Ted Kennedy was reelected 7 times after Chappaquidick). Separately, just because she is running as a Republican, don't assume that means she is conservative since the two words are not interchangeable. Her past financial contributions to candidates reflect that she has donated almost equally to Democrats and Republicans. Interestingly, she donated to former congressman and current White House Chief of Staff Rahm Emanuel's campaigns multiple times.